The hormone replacement therapy (HRT) is a kind of medication that replace hormones in the body, typically estrogen and progesterone, in women who have reached menopause. These medications are designed to reduce symptoms related to menopause, such as vaginal dryness, hot flashes, and mood changes. HRT can be administered in various forms, including pills, patches, creams, and gels.
The market for hormone replacement therapy in 2021 was
USD 24.97 billion, and by 2030 it will be worth USD 49.25 billion, growing at a 7.83% CAGR during the forecast period.
The global HRT market is driven by factors such as the increasing aging population, growing awareness about menopausal symptoms, and the effectiveness of HRT in managing these symptoms. However, the HRT market has also faced some challenges related to the risks associated with the long-term use of HRT, such as an increased risk of breast cancer, stroke, and heart disease.
Market Dynamics
Drivers
- Growing awareness about menopausal symptoms: Menopause can cause a range of uncomfortable symptoms, including hot flashes, night sweats, vaginal dryness, mood changes, and sleep disturbances. As awareness about these symptoms grows, more women are seeking out HRT as a solution.
- Effectiveness of HRT in managing symptoms: HRT is highly effective in relieving menopausal symptoms. This efficacy is a key driver of demand for HRT products.
- Technological advancements in drug delivery systems: Advances in drug delivery systems have made it easier and more convenient to administer HRT. For example, transdermal patches and vaginal rings offer more consistent and controlled delivery of hormones than oral medications.
- Development of new HRT formulations with improved safety profiles: The risks associated with the long-term use of HRT have been well-documented, including an increased risk of breast cancer, stroke, and heart disease. However, new HRT formulations with improved safety profiles are being developed, which may help to overcome some of these concerns and expand the market for HRT products.
Restraints
- Safety concerns: The long-term use of HRT has been associated with several health risks, including an increased risk of breast cancer, stroke, and heart disease. These safety concerns have led to a decline in the use of HRT in some regions and among certain patient populations.
- Several alternative therapies are available for managing menopausal symptoms, such as lifestyle changes, herbal supplements, and non-hormonal medications. These alternatives may be prefer by some women, limiting the demand for HRT products.
- High cost: HRT medications can be expensive, which may limit access for some patients. In addition, insurance coverage for HRT may be limit, further restricting access to these medications.
Opportunity
In the near future, the demand for bioidentical HRT and the use of telemedicine for hormone replacement therapy will provide a lucrative potential for the market for this type of therapy to grow.
Market Segmentation
By Product
In 2021, estrogen and progesterone replacement therapy had the biggest market share of 53.15%. An increase in the number of women experiencing menopause was blame for the dominance. The American Congress of Obstetricians and Gynecologists estimates that 6,000 women in the United States go through menopause every day.
The parathyroid hormone replacement segment will expand at the fastest rate due to the rising incidence and more product penetration.
By Route of Administration
The oral segment ruled the market in 2021 because it is so easily administer and has a high prescription rate. Tablets and pills are typically include in HRT medicines.
During the projected time, the parenteral segment will have profitable expansion. The category will grow due to improvements in parenteral drug delivery techniques, such as pen-based medication delivery, which are expect to increase patient compliance and simplify administration.
By Disease Type
In 2021, the menopausal category ruled the entire market due to the rising number of women experiencing menopause.
Due to an increase in new treatments and product introductions, the hypoparathyroidism segment will grow significantly throughout the projected period.
Regional Analysis
North America was the leading regional market, with 37.54% of the revenue share in 2021. The biggest market share in the area is due to several reasons, including significant product launches, manufacturer collaboration agreements, and benevolent reimbursement policies.
Asia-Pacific will be the fastest-growing regional market. The prevalence of vasomotor symptoms link with menopause has been observe to range from 43% to 83% among women in East Asian countries, according to the Journal of the North American Menopause Society (May 2022). Thus, the region’s demand for hormone replacement therapy will increase as more women enter menopause.
Key Players
- Hoffmann-La Roche Ltd. (Genentech, Inc.)
- Bayer Ag.
- Abbott Laboratories
- Eli Lily And Company
- Hisamitsu Pharmaceutical Co., Inc. (Noven Pharmaceuticals, Inc.
- Mylan N.V. (Viatris Inc.)
- Novo Nordisk A/S
- Merck Kgaa
- Novartis International Ag
- Pfizer Inc.
The
market for hormone replacement therapy in 2021 was USD 24.97 billion. And by 2030 it will be worth USD 49.25 billion, growing at a 7.83% CAGR during the forecast period. The accessibility of long-acting hGH products and factors, including the increased prevalence of target diseases. Is driving the expansion of the hormone replacement therapy (HRT) market.
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